The UK inflation rate fell to 2% in the year to July as the economy continued to reopen from Covid-19 restrictions.
The Consumer Prices Index (CPI) measure of inflation dipped from 2.5% in the year to June, the highest level for nearly three years, the Office for National Statistics (ONS) said.
The rate fell to the Bank of England’s 2% inflation target, after being higher for two months in a row. The dip in inflation was driven by price falls in clothing and footwear.
Read the full article on the BBC website
NAM Implications:
- Forget 2.5% inflation…
- …and try 5% to 10%, by category.
- See the reality: ‘Pound-in-your-pocket-inflation’ – How consumer perception of spending power affects willingness and ability to spend…
